The Bill was elaborated by Assistant Minister of Finance Mirjana Cojbasic, outlining the key macroeconomic assumptions the Ministry followed in the preparation of the Republic of Serbia 2016 Budget Bill reflected in the results achieved in the period January-September 2015, revision of the IMF arrangement, projections for 2015 and 2016, and the assessments of the European Commission. She opined that the Bill takes into consideration the fiscal consolidation measures which envisage cost cutting, it is characterised by a 3% cut in the total volume of public sector salaries, and running expenses are realistically planned in line with the continued austerity policy.

Cojbasic presented sections 20, 26 and 30 separately, saying that the funds for Section 20 – Ministry of Economy have been raised from 18.8 billion in 2015 to 19.4 billion RSD in 2016. The biggest rise went to subsidies, investments of special interest in particular.

In Section 26 – Ministry of Mining and Energy the subsidies stay the same, 3.8 billion RSD is allocated to energy source reserves, 1.3 billion are funds for the purchase of oil and oil derivatives, 700 million is earmarked for storage facilities. The rise in excise tax led to a rise in subsidies for protected energy consumers – 1.6 billion RSD. Investments remain unchanged, with the 13.5 billion RSD earmarked for the construction of Nis-Dimitrovgrad pipeline and 337 million RSD for the remote heating system, being of particular importance.

The subsidies for Section 30 - Ministry of Trade, Tourism and Telecommunications have gone up from 1.4 to 1.5 billion RSD to stimulate the construction of infrastructure and support public enterprises. 700 million RSD is to go for the development and promotion of tourism, and 400 million for the promotion of the Tourist Organisation of Serbia, 230 million for vouchers, and 120 million RSD for the improvement of the receptive tourist offer.

The ensuing debate focused on specific amounts allocated as stimulus for Resavica and to stimulate tourism.

Following the debate, by majority vote, the Committee members decided to propose that the Committee on Finance, State Budget and Control of Public Spending accept the Republic of Serbia 2016 Budget Bill, Section 20 – Ministry of Economy, Section 26 – Ministry of Mining and Energy, and Section 30 - Ministry of Trade, Tourism and Telecommunicatons.

The sitting was attended by MPs Djordje Cabarkapa, Alekandra Tomic, Milos Tosanic, Dragoljub Zindovic, Goran Vukadinovic, Radmilo Kostic, Dejan Capo, Olivera Pauljeskic, Ivana Dinic and Vladimir Marinkovic.

The sitting was chaired by Committee Chairperson Aleksandra Tomic.